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Overview

Performance

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KALL is benchmarked to the MSCI China All Shares Index, which provides exposure to Chinese securities listed on all Chinese stock exchanges, including Mainland China, Hong Kong, and the United States. Companies available for inclusion must be headquartered in China and meet the market capitalization minimums required by the MSCI Global Investable Market Indexes Methodology.

China Broad Equity Market Features:

  • The increased availability of Chinese equities to foreign investors over the past few years has brought about the rise of China as an asset class.
  • China has the world’s second largest economy and equity market, with a capitalization of over $12.1 trillion1.
  • Only 3% of China’s Mainland stock market is owned by foreigners2.

KALL features:

  • Strategic ownership of China as an asset class.
  • Exposure to shares of Chinese companies listed in Hong Kong, Mainland China, and the United States.
  • A broad exposure to the world’s second largest equity market that can be used for China specific allocation in order to produce more efficient portfolios.

1.) Data from MSCI as of December 31, 2020. In order to capture the entire China opportunity, we added together the full market caps of the Shenzhen and Shanghai Stock Exchanges and then added the MSCI China Index market capitalization to arrive at the market cap for each year.
2.) WSJ. “It Was a Lost Decade for China’s Stock Market, but Investors Bet on Better Times Ahead”. 1/4/2020, retrieved 9/30/2021.

Premium Discount Chart

Daily Performance

Data as of 12/01/2022
Daily Net Asset Value (NAV) and Market Price
NAV $21.64
NAV Daily Change 0.83%
Market Price $21.60
Market Price Daily Change -0.73%
30 Day Median Bid/Ask Spread
0.32%
Distributions

Performance History

Cumulative %
Data as of: 11/30/2022
Fund NAV Closing Price Index
1 Month 24.12% 26.22% 21.29%
3 Month -7.54% -5.31% -7.96%
6 Month -9.68% -7.40% -10.24%
Since Inception 3.51% 4.88% 5.40%
Avg Annualized %
Data as of month end: 11/30/2022
Fund NAV Closing Price Index
1 Year -25.82% -24.53% -27.67%
3 Year -2.20% -1.92% -2.61%
5 Year -1.88% -1.76% -2.18%
Since Inception 0.44% 0.61% 0.68%
Avg Annualized %
Data as of quarter end: 09/30/2022
Fund NAV Closing Price Index
1 Year -31.01% -31.54% -31.75%
3 Year -2.38% -2.69% -2.75%
5 Year -2.63% -3.02% -2.71%
Since Inception -0.28% -0.40% 0.06%

*Fee waivers are and in effect until August 1, 2023

Hybrid index performance (noted as "Index" above) reflects the performance of the FTSE Emerging incl China Overseas non-R/QFII GDP Weighted Index through July 31, 2018 and the MSCI China All Shares Index thereafter.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Growth of $10,000

Data as of 12/01/2022

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only.

Top 10 Holdings

Data as of 12/02/2022 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 TENCENT HOLDINGS LTD 7.29% 700 KYG875721634 10,358 393,898
2 ALIBABA GROUP HOLDING LTD 5.61% 9988 KYG017191142 27,824 303,132
3 KWEICHOW MOUTAI CO LTD-A 3.00% 600519 CNE0000018R8 700 162,366
4 MEITUAN-CLASS B 2.92% 3690 KYG596691041 7,300 157,561
5 CHINA CONSTRUCTION BANK-H 2.06% 939 CNE1000002H1 186,000 111,357
6 JD.COM INC - CL A 1.90% 9618 KYG8208B1014 3,672 102,460
7 PINDUODUO INC-ADR 1.48% PDD US7223041028 924 79,778
8 PING AN-H 1.39% 2318 CNE1000003X6 12,500 75,158
9 IND & COMM BK OF CHINA-H 1.30% 1398 CNE1000003G1 143,441 70,397
10 BAIDU INC-CLASS A 1.12% 9888 KYG070341048 4,450 60,659

Holdings are subject to change. Currently, KALL plans to achieve its investment objective, in part, by investing a portion of its assets in the KraneShares Bosera MSCI China A Share ETF (ticker: KBA).